International sources for the globalization of criminalization of financial corruption

Abstract

:        The world has undergone profound transformations under the influence of globalization, effectively turning it into a small village. While the economic and commercial domains were initially the most fertile ground for the globalization project, it soon evolved into a multifaceted phenomenon—an octopus with far-reaching arms—bringing about sweeping changes across all aspects of life. Among the areas most significantly affected was the legal and legislative landscape of nations. Legislation, once confined to national sovereignty, has gradually shifted toward a more global orientation. This shift has been driven by the international community’s growing emphasis on shared values and universal social ideals, propelled by the emergence of a new cultural and civilizational paradigm introduced by globalization.

As a result, the principle of national sovereignty in legislation has lost much of its exclusivity. The globalization of the criminalization of financial corruption is but one dimension of a broader, more comprehensive globalization process. It reflects—and reinforces—the influence of global norms on domestic legal systems, becoming a principal source for numerous legislative provisions and a manifestation of their evolving philosophical underpinnings. What were once purely national negative behaviors have, in many cases, morphed into transnational criminal patterns. Confronting these behaviors requires harmonizing national laws with international conventions that address corruption-related crimes. This legal harmonization, when effectively implemented, plays a vital role in fostering the desired international cooperation and solidarity in the fight against emerging criminal phenomena. Achieving this goal hinges on states’ commitment to their international obligations and the effective enforcement of the provisions contained in these global agreements.